The Brazilian auto industry got clobbered in June.
The 36% year-over-year plunge was reported by Latin American news organisation MercoPress. Overall, it was not a great economic patch for Brazil, but the country had an obvious excuse.
According to MercoPress, “The Brazilian Institute of Geography and Statistics noted that the drop in production was linked to the 2014 Brazil World Cup, which ran from June 12 to July 13 in 12 Brazilian cities, where additional holidays were declared and factories were temporarily closed.”
Global carmakers have lately begun to express concern about the contracting Latin American markets. We’ll have to see if Brazil’s auto industry recovers in July, or if the World Cup dip just worsened a downturn that was already underway.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.